Live Oak Bancshares in Wilmington, N.C., has exited the Small Business Lending Fund.
The $1 billion-asset company
Live Oak, which is among the nation's top Small Business Administration lenders, is the latest bank to exit the SBLF, a program created in 2010 to spur lending to small businesses.
A number of banks have been eager to leave the program before its
The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side.
The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.
On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders.
The Bank Policy Institute, the American Bankers Association and others said proposed changes would address "some if not all" of banks' concerns about stress tests, but they are filing the lawsuit to preserve their legal right to do so.
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
Fintech lenders often get criticized for high rates or fees on their consumer lending. But there's an argument to be made that the alternatives are worse.
